Excellent talk explains how markets are driven by the psychology of owners, active traders, and buyers. Specifically, the bullion banks, acting as market makers, have visibility into the institutional stop-loss positions created every time gold trades up in price using margin contracts in the gold broker markets. Gold bullion dealers trade for proprietary profit using their own inventory and market visibility in the order book. Also discussions of stablecoin, money supply, inflation, and government policies:
Joe